Insider Buying: AFC Gamma, Inc. (NASDAQ:AFCG) CEO Buys $102,700.00 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville purchased 16,250 shares of the stock in a transaction dated Monday, March 17th. The stock was bought at an average cost of $6.32 per share, with a total value of $102,700.00. Following the completion of the purchase, the chief executive officer now owns 177,261 shares in the company, valued at $1,120,289.52. The trade was a 10.09 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Daniel Neville also recently made the following trade(s):

• On Friday, March 14th, Daniel Neville bought 30,349 shares of AFC Gamma stock. The stock was purchased at an average cost of $6.52 per share, with a total value of $197,875.48.

AFC Gamma Stock Down 4.8 %

Shares of NASDAQ AFCG traded down $0.32 during midday trading on Monday, reaching $6.30. The company’s stock had a trading volume of 580,267 shares, compared to its average volume of 167,861. The stock has a 50 day simple moving average of $8.34 and a 200-day simple moving average of $9.27. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $138.30 million, a price-to-earnings ratio of 15.75 and a beta of 1.03. AFC Gamma, Inc. has a fifty-two week low of $6.10 and a fifty-two week high of $13.28.

Analyst Upgrades and Downgrades

AFCG has been the subject of a number of recent analyst reports. JMP Securities restated a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Alliance Global Partners began coverage on AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price target for the company. Finally, Jefferies Financial Group lowered AFC Gamma from a “buy” rating to a “hold” rating and dropped their price target for the stock from $10.00 to $7.00 in a research report on Friday. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.67.

Institutional Investors Weigh In On AFC Gamma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its stake in shares of AFC Gamma by 19.7% during the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after buying an additional 85,655 shares during the last quarter. State Street Corp increased its position in shares of AFC Gamma by 2.8% in the third quarter. State Street Corp now owns 376,611 shares of the company’s stock valued at $3,968,000 after acquiring an additional 10,320 shares during the last quarter. Penserra Capital Management LLC raised its holdings in AFC Gamma by 22.9% during the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock worth $799,000 after acquiring an additional 14,570 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in AFC Gamma by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock valued at $515,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in AFC Gamma by 57.8% in the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock valued at $248,000 after purchasing an additional 8,877 shares in the last quarter. 26.53% of the stock is currently owned by institutional investors and hedge funds.

About AFC Gamma

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.